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Indicate whether the statement is true or false
FALSE
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?In the ATM model of money, the opportunity cost of holding money is determined by
A. ?the rate of inflation. B. ?the cost of going to an ATM. C. ?the charges levied on every ATM transaction. D. ?the nominal interest rate and the possibility of having her money stolen.
Victor's Detailing customers would be willing to pay $57 per detail. The company requires a 80% markup on each job. The average job would cost $30. Victor's Detailing uses markup to set price on each job. What is the price he should quote a new customer?
A) $30 B) $24 C) $54 D) $84 E) $240
When a firm has many potential competitors and tries to develop a marketing strategy to differentiate its products from the competitors' products, a(n) ____ structure exists in the competitive environment.
A. oligopoly B. monopoly C. pure competition D. oligopolistic competition E. monopolistic competition
Madison purchases several 50-pound bags of mulch at the local gardening store. An employee carries the bags of mulch to Madison's truck and loads them into the back for her. Will Article 2 of the UCC govern the contract in this situation?
A. No, this is a mixed contract because Madison is paying for both goods and labor. B. Yes, because the primary purpose of this contract is the sale of goods. C. No, this is an express contract because both parties explicitly state their intentions. D. Yes, because Article 2 of the UCC governs all bilateral contracts.